Upgrade, a U.S.-based consumer finance fintech, raised $165 million in a new funding round led by Neuberger, with participation from DST Global and Ribbit Capital, valuing the firm at $7.3 billion pre-money—a 21.7% increase from its prior valuation. Founded in 2017, Upgrade has disbursed over $42 billion in consumer credit through mobile banking, credit cards, BNPL, and personal lending products, and plans to go public within 12–18 months. CEO Renaud Laplanche said the raise provides employee liquidity ahead of the IPO and supports continued growth as Upgrade capitalizes on the fintech sector’s rebound following the slowdown of the post-2021 funding boom.

Fintech Upgrade Raises $165M, Targets IPO in 12 to 18 Months